[24 September 2024]
Today, Tuesday 24 September 2024, StockCharts365.com has taken a closer look at an exciting company and share on the Oslo Stock Exchange: Kongsberg Automotive ASA (ticker on the Oslo Stock Exchange: KOA).
The stock has triggered positive technical signals recently, and the stock could be a good candidate for doubling in just the next 3-6 months, StockCharts365.com believes.
StockCharts365.com is not alone in having faith in the company Kongsberg Automotive ASA (KOA).
Read more about this below in the case here today.
First a little about the company Kongsberg Automotive ASA (ticker on the Oslo Stock Exchange: KOA):
Kongsberg Automotive is an industrial group that offers system solutions and spare parts for the automotive industry. The offer consists of solutions within comfort and safety-related products, chassis and other special products.
The products are supplied to car manufacturers on a global level and are used in heavy and light vehicles. The company also offers service that includes installation, repair and training.
The company was established in 1987 and has its head office in Zurich.
For more information about the company, visit their website here:
Technical Analysis of Kongsberg Automotive ASA (ticker: KOA)
Technical Analysis of Kongsberg Automotive ASA (ticker: KOA)
The KOA share has triggered several positive technical signals recently, and further price rises are signaled for the share in the short and medium term.
The stock has broken out of a downtrend, and has also broken above its 50-day moving average.
After the recent downward correction, the share will probably find significant technical support around the NOK 1.50 level and around the 50-day moving average (which is currently around NOK 1.53).
Furthermore, there is a possible inverted head and shoulder formation under establishment, and where we may now see the establishment of the second shoulder if the share now turns upwards again from around the NOK 1.50-1.55 level.
An established break above the NOK 1.90 level will trigger a strong technical buy signal for the KOA share, which may then have the potential for around NOK 2.80 - 3.20 in the 3-6 month term.
Both of StockCharts365.com's own analysis models ('The SignalList' and 'The TradingList') are in a buy signal for the KOA share.
The overall technical picture for the KOA share is therefore positive, and indicates a possible doubling for the share to around NOK 2.80 - 3.20 during the next 3-6 months.
What could potentially change the currently very positive technical picture for the KOA share would be if the share were to have an established break below the 50-day moving average (around NOK 1.53) and below the now important technical support level around NOK 1.50.
Otherwise, StockCharts365.com is not alone in having gained faith in the Kongsberg Automotive share, and so has ABG Sundal Collier:
KOA: ABG SUNDAL COLLIER TAKES COVERING WITH BUY, PRICE TARGET 2.00
12 Sep 07:45 Source: TDN Finance
Oslo (Infront TDN Direkt): ABG Sundal Collier takes up coverage of Kongsberg Automotive with a buy recommendation and price target NOK 2 per share.
This appears from an analysis on Thursday 12 September.
ABG points out, among other things, that the company has strong customer loyalty and good visibility with 85 per cent of turnover in 2026 guaranteed by contract.
In addition, it is noted, among other things, that the company can free up value by splitting up and selling assets, as recent agreements suggest fair EV/ebitda multiples of 5.4-6.8 times, which corresponds to NOK 3.30-4.30 per share.
The CFO of the company also has faith in the KOA share:
KOA: FINANCE DIRECTOR BOUGHT 100,000 SHARES, PRICE 1.46
6 Sep 07:04 Source: TDN Finance
Oslo (Infront TDN Direkt): CFO of Kongsberg Automotive, Christian Johansson, on Thursday bought 100,000 shares in the company at an average price of NOK 1.46 per share.
This appears from a message on Friday 6 September.
After the transaction, Johansson owns 200,000 shares in the company.
NB! Remember to have read and understood the disclaimer.
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